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Dec 8, 2012
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when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in addition to. >> yes, in addition to. the problem with having that debate now suggests that that
when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to...
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Dec 13, 2012
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, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
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Dec 13, 2012
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the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total ince that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free exible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when
the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains...
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Dec 5, 2012
12/12
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. >> what nancy pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new idea that republicans get more leverage if they give the president taxes now and hold out on, and hold the line on the debt ceiling like they did last summer successfully is something that is new and i think a different kind of two-part plan that republicans are starting to consider as maybe a backup plan that gives them the ability to say we lost the 2% tax hikes now, but we're going to fight later on the debt ceiling. >> let me bring in congressman james lang foford, fifth rankin republican in the house, congratulations, good morning. >> thank you, good morning. >> let me ask you about the poss
. >> what nancy pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new...
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Dec 12, 2012
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i do not want us to go off the fiscal cliff, congress created in a bipartisan way this is the result of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases do nothing to self, you have 200,000 less jobs next year for, that those who vote for that will be held responsible for that decision. neil: is it terrible public policy if you leave off the table. what accounts the majority of spending off the table. if you leave out medicare, and medicaid, and don't even pry to bridge up -- try to bring up social security, 8 democratic members and congressmen marked that, don't touch these entitlements, one of next. ♪ [ gine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter ent back, with the perfect vehicle that's just right for you, no matter which list you'r
i do not want us to go off the fiscal cliff, congress created in a bipartisan way this is the result of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases...
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Dec 13, 2012
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irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall
irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african...
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Dec 8, 2012
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, boehner got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if he's serious, to come back to us with a counteroffer. >> not a
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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Dec 13, 2012
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cliff tax increases. however, outlet malls have actually performed better. consumers are finding value in the off-price luxuries at outlet malls, like this one. >> the consumer has begun to make some significant statement us in terms of their rpreferenc and the outlet malls are starting to find some distance between their performance and the performance other traditional malls. >> outlet mall occupancy nearly 95%, according to capri partners, compares to traditional malls about 90% or so th so. then when you talk about the revenues, 13 to 15% compared to low single digits for their traditional counterparts. we have the average base represent of 8 1/2% for outlet's and those sales up about 9%. l lum board says they are seeing the revenue increase and as a result, high-end retailers like nordstroms are looking to open more of their shops in the outlet centers. nordstrom plans to open 15 nordstrom racks in fiscal year 2012 and just one full-line store location. the outlet store strategy is baked in the cake
cliff tax increases. however, outlet malls have actually performed better. consumers are finding value in the off-price luxuries at outlet malls, like this one. >> the consumer has begun to make some significant statement us in terms of their rpreferenc and the outlet malls are starting to find some distance between their performance and the performance other traditional malls. >> outlet mall occupancy nearly 95%, according to capri partners, compares to traditional malls about 90%...
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my next guest is concerned that we are going over the fiscal cliff. he says, preside obama seemingly is intent on rsing his post-election advantage to win tax increaseson the wealthy and to eliminate the houses debt ceiling leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former member of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe there going or the cliff. >> i think their is a real danger of this. one can see a path for obaaa that does not look so terrible if we do go over the cliff. all of the taxes go up, but the democrats have an opportunity to introduce legislation to reduce the taxes for 98 percent of the people leaving the wealthier people, i guess you could call them wealthy, the top two percentage to stay at the high rates. it is possible to do this. lou: it is posible, but i have to ask you, surely the republicans have to understand and had understand six months ago what what transpired in this lame duck ses
my next guest is concerned that we are going over the fiscal cliff. he says, preside obama seemingly is intent on rsing his post-election advantage to win tax increaseson the wealthy and to eliminate the houses debt ceiling leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former member of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe there going or the cliff....
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Dec 8, 2012
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but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign anything, even to get past december 31st. that doesn't include a debt ceiling of some sort. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also. i think the concern will be an administration overstepping or overreaching and trying to jam a debt limit inc
but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the...
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Dec 11, 2012
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cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we need to understand the middle class makes us different and exceptional. every didn't has rich people but what makes us different in history is we have a broad based vibrant middle class. it is not just people in the hill class but millions of people that are trying to get to the middle class. i rely on my occupy life experience. my parents worked in the service industry, immigrants, they did not make a lot of money, a bartender and maid and they owned a house and a car. today all four of their children live a much better life because of them and becaus
cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception...
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Dec 7, 2012
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selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have been much higher in the dow than we are now. thanks, bertha. what's to do with apple? is it a buy? do you avoid it? let's talk numbers on this today. what to do with this dreaded death cross? >> bill, a lot of clients of phoenix partners are calling in and saying, you know, what do i do now? is this the time to buy apple? my answer is simply, no, no, no. this is not the time to buy. lefts look at a longer term chart. what i want to point to is the nice, healthy, steady increase in price from 2009. all of the sudden, you know, greed takes
selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have...
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Dec 13, 2012
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities alleging the bank failed to recognize $12 billion in unrealized losses at the height of the financial crisis. they claim improper accounting on the part of the deutsche bank enabled the lender to exaggerate its capital position. and citigroup plans to shed 11,000 jobs around the world which equals around 4% of its workforce. some experts say this is part of a strategy led by their new coe who took job in october, however others say it has the finger prints of chairman michael o'neal. citi shares reacted positively to the news, though the stockstill trading at around 70% of its tangible book value. you can
and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities...
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Dec 12, 2012
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that committee writes all of our tax laws so this is the room w where any deal on the fiscal cliff would be born or die. we have we have new information on those negotiations in just a moment.. >> that's right, it's incredible it's incre to be here in this room. we're going to talk more about mor this a little later in the show. >> surrounded by all the photographs of all the powerful house & ways means chairmen.and >>> we want to get to some of first. the news first.g with violent ski on the other side ofn the the country, thousands of of the holiday shoppers had to ask thor yesterday as a man wearing camouflage opened fire at a mall hundreds o just outside portland oregon. police say he killed two people and wounded another, then shot another, himself to death. john blackstone is at clackamass town center. john good morning. >> reporter: good morning, norah and charlie and good morning to our viewers in the west. the christmas spirit quickly left this mall yesterday. one eyewitness said the gunman was wearing a hockey mask and bulletproof mask and calmly fire on announced he was the sh
that committee writes all of our tax laws so this is the room w where any deal on the fiscal cliff would be born or die. we have we have new information on those negotiations in just a moment.. >> that's right, it's incredible it's incre to be here in this room. we're going to talk more about mor this a little later in the show. >> surrounded by all the photographs of all the powerful house & ways means chairmen.and >>> we want to get to some of first. the news first.g...
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Dec 7, 2012
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this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithne
this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the...
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the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road where they have more leverage. president obama was asked about that earlier this week and said he doesn't want to play the debt ceiling game anymore. that's where republicans have more leverage than then do on other matters. >> all right. senior political editor mark murray, have a great weekend, sir. >> i want to bring in congressman peter welch from vermont. good to see you again. talked to you last weekend on msnbc. at that point you told me that you thought there was a 50/50 shot we'd go off the so-called fiscal cliff. today speaker boehner said talks we
the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road...
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Dec 12, 2012
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as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits for companies that were put in
as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i...
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Dec 12, 2012
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to avoid the fiscal cliff. and the very same christine welker joins us live from the white house. you reported this earlier today. the speaker's office is now pushing back a little bit claiming there are no parameters on what tax reform would look like. but they aren't denying what you said, are they? >> they're not directly denying it. their point is raising tax rates or keeping them low is a moot point. because they have always been opposed to raising tax rates on wealthy americas. they say it would hurt small business owners. they're calling for overall tax reform, they say. but this has evolved into a game of chicken with both sides refusing to concede anything until the other side does first. so yesterday it seemed like there was some movement. today it seems as though these negotiations are really to some extent falling apart. as you know president obama and john boehner spoke on the phone yesterday. sources on both sides are describing that phone conversation as tense in large part because of this issue
to avoid the fiscal cliff. and the very same christine welker joins us live from the white house. you reported this earlier today. the speaker's office is now pushing back a little bit claiming there are no parameters on what tax reform would look like. but they aren't denying what you said, are they? >> they're not directly denying it. their point is raising tax rates or keeping them low is a moot point. because they have always been opposed to raising tax rates on wealthy americas. they...
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if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short sales. expect short sales to jump more as homeowners look to avoid getting hit with taxes and banks look to avoid getting stuck with properties. if we go over the cliff the tax bill homeowners face with the short sale may be steep enough to walk away instead. that would push foreclosure rates higher in 2013. for smart is the new rich i'm christine romans. >> coming up, a huge legal headache for pop star shakira. she's being slapped with a $100 million lawsuit by her ex-boyfriend and former business partner. does he have a case? our legal guys share their thoughts. americans believe they should be in cha
if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short...
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Dec 13, 2012
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happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is already going to happen on january 1 from this massive new tax increase that was in the health care bill, why don't we find a way to understand and have the economy take that in hand first? i know the president stood here at the state of the union address and said we're not going to spend one dime of taxpayer money. i know the president stood here and said every single american can keep your own insurance plan. i know the president has made these promises to the american people and these are things that we're going to have to un
happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is...
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they are understanding it as we get closer to the fiscal cliff. >> it says a signal to people that the senate passed tax cuts for 98% of americans but they won't do it in the house. that was before the election. and i just holding the ground is going to be important, no question about that. i get a sense the democrats are unified. but going over the cliff, that affects the constituents big time. correct? >> how do you hold that together? >> there's unanimity that july 25th, we passed tax cuts for the 98% to continue this tax policy that they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banki
they are understanding it as we get closer to the fiscal cliff. >> it says a signal to people that the senate passed tax cuts for 98% of americans but they won't do it in the house. that was before the election. and i just holding the ground is going to be important, no question about that. i get a sense the democrats are unified. but going over the cliff, that affects the constituents big time. correct? >> how do you hold that together? >> there's unanimity that july 25th, we...
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Dec 5, 2012
12/12
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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Dec 8, 2012
12/12
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KRON
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we take a look at how the fiscal cliff will directly affect our state if an agreement isn't reached. the biggest thing on the chopping block. hundreds of thousands of jobs! plus. it's 71 years to the day japan launched a deadlywe honor the veterans who lost their lives in that attack. >> heigthe high-tech break your budget and now dollars in gross state product. it would also mean the loss of 225-thousand jobs. and about 400,000 unemployed californians would stop getting checks at the end of the year. return "when it comes to the fiscal cliff that is threatening our economy and threatening jobs the white house has for the president if he's with a counter offer." >> congressional republicans days and counting to work will take effect. r today marks the 71st anniversary of japan's deadly attack on pearl a 21 gun salute. 7th, 1941. >>jacqueline: on 60s to cupertino, also 60s for the inland valleys. 60s in livermore, concord, and a low 60s for the east bayshore. along the coast, 60s in ocean beach. 60s for the north bay and with a look at your extended forecast areas of fog in the north
we take a look at how the fiscal cliff will directly affect our state if an agreement isn't reached. the biggest thing on the chopping block. hundreds of thousands of jobs! plus. it's 71 years to the day japan launched a deadlywe honor the veterans who lost their lives in that attack. >> heigthe high-tech break your budget and now dollars in gross state product. it would also mean the loss of 225-thousand jobs. and about 400,000 unemployed californians would stop getting checks at the end...
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Dec 8, 2012
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if we go over the fiscal cliff, you are going to have a $2,000 increase in taxes for the average household. i want to look at what the inflated prices we are currently paying for things like our 401(k)s, our bank fees, our electric utilities, our state and local taxes. they add up to $2,390. we are paying it to corporations that are making big profits. >> one of the key things corporations have been doing is finding ways to privatize redistribution upward, it is not trickled down which was invented to deride reaganism but it is amazon or niagara up. the single biggest trend is corporations pocketing taxes so they never get to the government. there are 2700 companies, every big brand name company you have ever heard of, gets to keep some or all of the state income taxes with held from their workers paychecks. they don't know this. the company gets a tax credit equal to those taxes in a confidential document. all over the place, that's what's happening. our tax dollars are being diverted to corporations through gifts, through tax credits, through all sorts of different mechanisms. >> how do
if we go over the fiscal cliff, you are going to have a $2,000 increase in taxes for the average household. i want to look at what the inflated prices we are currently paying for things like our 401(k)s, our bank fees, our electric utilities, our state and local taxes. they add up to $2,390. we are paying it to corporations that are making big profits. >> one of the key things corporations have been doing is finding ways to privatize redistribution upward, it is not trickled down which...
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Dec 13, 2012
12/12
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a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is clear plus. the other reports, housing starts were up very sharply the last report. sales are doing better. sales of new homes are doing better. across the board most reports, not every report every month but just about all the data we're see something positive. and housing, housing is actually making a contribution to the economy. not like we would like but i think we'll take anything we can get. ashley: obviously the economy is so reliant on the consumer a big part of the economy. can they support the recovery? >> i think they can sort of ke
a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is...
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Dec 10, 2012
12/12
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...
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Dec 5, 2012
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has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you re
has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think...
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Dec 6, 2012
12/12
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WUSA
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. >> reporter: lawmakers are getting an earful about why they need to avoid the so- called fiscal cliff. >> you've got to nail this down. uncertainty is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go over the cliff if congress fails to come to a agreement. the standoff and the country's skyrocketing debt concerned ryan ryan, so much so that he's the guy in the suit dancing gangnam style with former senator alan simpson. the can kicks back is working to get young people back to fixing the debt crisis. >> we're using humor to hook them in and get them to learn about this issue and understand how it affects their lives. >> reporter: the grass roots campaign wants to sign up more than two million people to put pressure on both sides. danielle nottingham, cbs news, washington. >>> 9news now is talking to our local con
. >> reporter: lawmakers are getting an earful about why they need to avoid the so- called fiscal cliff. >> you've got to nail this down. uncertainty is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. president obama and house speaker john baner -- john boehner spoke wednesday but publicly are holding firm on their positions. it's made clear the country could go...
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Dec 5, 2012
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bill: negotiations on that fiscal cliff and his first one-on-one television interview since reelection president obama says he will only agree to a deal that raises tax rates on top earners. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue through closing loopholes abductions, it's going to be middle class families that make up the difference. bill: john boehner will speak later this hour. we'll see how he responds to that comment. if washington can't get a deep, automatic tax increases and massive spending cuts do take effect. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget
bill: negotiations on that fiscal cliff and his first one-on-one television interview since reelection president obama says he will only agree to a deal that raises tax rates on top earners. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because...
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Dec 13, 2012
12/12
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poll, obama has a mandate to raise taxes. and fiscal cliff talks appear stalled. almost two-thirds of americans say the election results give president obama a mandate to raise taxes on the wealthy. and 64% say obama has a mandate to protect entitlement programs like social security and medicaid. >> and it's not raising taxes on them, it's letting the old tax cuts expire as they were supposed to do two years ago. >> thank you. >> stephanie: good morning, congress woman judy chu. >> good morning. >> stephanie: thanks for take time with us. >> it's great to be with you. >> stephanie: i'm sure you are looking at the same polls i am, the vast majority of americans agree with him exactly on these issues, right? >> exactly. in fact it is really upside down. the people who lost the election are protecting the top 2% the people who won the election are fighting to protect the tax rate of 98% of americans. >> stephanie: thank you. i thought i read this wrong this morning. i don't think john boehner understands what compromise means. the president reduced the income from $1
poll, obama has a mandate to raise taxes. and fiscal cliff talks appear stalled. almost two-thirds of americans say the election results give president obama a mandate to raise taxes on the wealthy. and 64% say obama has a mandate to protect entitlement programs like social security and medicaid. >> and it's not raising taxes on them, it's letting the old tax cuts expire as they were supposed to do two years ago. >> thank you. >> stephanie: good morning, congress woman judy...
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Dec 7, 2012
12/12
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cliff issue, on the tax reform and entitlement reforms that we get next year, and there is a sense he really could use a bit of some fresh blood to make things a little easier going forward. >> chris, susan, and ari, thank you very much for all joining us. and the jobs report, more jobs are added in november than was predicted. what does it all mean for the economy? we'll have our own reality check next. first, new jersey governor chris christie stops by "the daily show" to chat with jon stewart about his run-in with the boss. >> and he came up and put his hand out and i shook his hand. i tried to be cool. >> sure. >> i wasn't. >> no. >> and then he said, come on, give me a hug. and i said all right. and i hugged him. >> did he go, come on stop, let me go? >> no. i was -- that's always hard to judge, when do you stop the man hug? that's hard. >> did you give had him -- you got to give also this the pat or just go slow dance? >> i went slow dance. >> you have to be kidding me. >> i went slow dance. >> no pat. i went slow dance. >> oh. >> but -- but then, he said the most amazing thing
cliff issue, on the tax reform and entitlement reforms that we get next year, and there is a sense he really could use a bit of some fresh blood to make things a little easier going forward. >> chris, susan, and ari, thank you very much for all joining us. and the jobs report, more jobs are added in november than was predicted. what does it all mean for the economy? we'll have our own reality check next. first, new jersey governor chris christie stops by "the daily show" to chat...
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Dec 6, 2012
12/12
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host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top rate stays at 55%. the exemption level started rising from $1 million and going up. it was repealed completely in 2010 for one year. then it sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house w
host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top...
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Dec 6, 2012
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prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts for the middle class, allow rates to go up to the wealthiest and then start the fight all over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line warning opponents not to consider the strategy. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> senator tom coburn yesterday on "morning joe" became the latest to br
prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts for the middle class, allow rates to go up to the wealthiest and then...
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is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the subject of his latest book that many a politician may benefit from actually reading. from a long time and bald churchy i don't do it anymore of those boys much they do not read his words will. they go and the as these the is reportedly investigating going to be providing twelve billion dollars in derivatives trading losses in two thousand and eight yeah yeah there's a list of alleged bad bank behavior how is good capitalism though being driven out by bad capitalism all will break it down and word of the day plus alan greenspan says a painless solution to the u.s. debt is a fantasy finally something we can agree on more in loose change let's get to today's capital account. our guest kevin phillips made a name for himself in the late one nine hundred sixty s. as a g.o.p. operative who coined the phrase and wrote the book the emerging republica
is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the subject of his latest book that many a politician may benefit from actually reading. from a long time and bald churchy i don't do it anymore of those boys much they do not read his words will. they go and the as these the is reportedly investigating...
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Dec 7, 2012
12/12
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CNNW
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look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time ago, this morning. it showed that consumer confidence plunged and in the first week of its month because americans don't know what to expect taxwise. that's a bad sign for retailers at the most important time of the year. the holidays. because guess what, if consumers aren't feeling confident, they are no going to spend. that domino effect that hit retailers, many of these retailers depend on the holiday sales to push them into a profit important the year. this is what's weighing out there in -- you know, for consumers, yes. fiscal cliff definitely weighing on things. despite the fact that the jo
look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time...
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Dec 8, 2012
12/12
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when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it unless we do something. that is our worries. >> as part of that second stage, does the top rate have to end at 39.6? are there ways democrats can accept something in between bush and clinton if it was coupled with a reduction in the ability of people to take certain deductions or credits? would you see a top rate below 39.6 when the dust settles? >> i do not want to second-guess what we may decide. i think we should go to 39%. that is not what we should be debating. i do not think it is instead of -- >> it is in addition to. >> yes. having that debate now suggests that that is all we have to do. most people
when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it...